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#Payment Technology

Embrace the future

New Technology
6 Mins.

EMV® technology has made the payments industry far more secure. But that’s not all it offers – EMV® also paves the way for additional future payment propositions by enabling safer, smarter transactions beyond smart cards and contactless to mobile and remote payment channels. All you need is the right partner to make them a success.

High fraud rates associated with magstripe technology was the driving force behind global adoption of EMV® smart cards. This has been proven to work in every market where smart cards have been deployed. G+D has been shaping the industry and supporting customer migrations with minimum impact to existing processes.

G+D’s role today is to offer financial institutions the products and services they need to provide secure payments in accordance with EMV® standards. We ensure that the focus is on growing business and not on handling complex processes.

Security, speed, and convenience

EMV® smart cards have more advantages than just security. Using contactless smart card technology as a communication channel between the EMV® smart card and the terminal will keep the transaction secure and increase speed and convenience, benefiting the merchant and the card holder.

EMV® smart cards can be deployed for use as tickets in public transport, as loyalty cards, or for physical access. Indeed, EMV® smart card technology today forms the core of mobile apps, mobile wallets, wearables, stickers, fobs, and traditional card form factors.

Contactless payment paves the way to multi-application, as the same device (card, mobile handset, or wearable) can also be used for transit or access control

Smart Payment Association

Tap+Pay smart card technology

Woman pays by using a smart card technology
EMV® smart card technology: at the core of mobile apps, mobile wallets, wearables, stickers, fobs, and traditional card form factors

Offering the convenience and security of contactless payment, financial institutions differentiate themselves from the competition by decreasing the time busy consumers need to complete transactions.

Tap+Pay with smart cards is a winning proposition for the entire value chain – consumers, financial institutions, and merchants. Contactless payment speeds up the check-out experience and increases throughput at each point of sale.

Contactless technology is rapidly being adopted worldwide:

  • All new terminals in Europe must be contactless enabled
  • More than 70% of POS terminals in Spain and Poland are contactless enabled1
  • Since 2014, payment brands in Canada and Australia mandated contactless acceptance for all deployed or upgraded terminals1
  • 90% of new cards issued in China are contactless1

EMV® technology: quick, simple, and secure

EMV® technology has evolved since it was launched with new configurations to meet the demand of regional/national regulations, payment brands’ requirements, and consumer behavior.

G+D has realized EMV® migration projects in more than 50 countries worldwide and has developed processes that make migration and development around EMV® services quick, simple, and secure. G+D remains at the customer's side, with a wide range of tools to optimize the processes relating to personalization, issuing, and use of payment products.

Up to 50% faster than average solutions

G+D offers secure products that are quickly personalized. What’s more, they work at a faster transfer rate in the field to fulfil Visa and Mastercard requirements.

G+D were the first to offer Quick Chip, where customers dip and remove their EMV® chip smart card at checkout in two seconds or less. They can even do so before the transaction is complete and the salesperson is still ringing up the items.

Encouraging customer loyalty

Payment services enhanced with customer loyalty programs are a source of growth for many businesses and market segments, including public transportation, domestic debit schemes, gas stations and other retailers, government and mobile network operators.

G+D’s white label payment solution extends beyond card manufacturing and personalization. It offers an end-to-end solution, ranging from smart cards and personalization, to issuing and acquiring systems, rounded up with a state-of-the-art loyalty engine.

CONVEGO OMNI offers unique value-added features:

  • Customizable to regional and national requirements
  • Complies with EMV® Common Payment Application (CPA) and Common Core Definitions (CCD) to ensure maximum flexibility and interoperability for all stakeholders
  • Enhanced use cases to enable data sharing and contactless payment within the closed-loop environment
  • Standard certification process with no dependency on proprietary implementations
  • Tools, software, and services needed to configure, personalize, and manage the data and keys related to white label smart cards

  1. Source: Smart Payment Association

Published: 17/05/2020

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